The Caisse de dépôt et placement du Québec will acquire a minority stake in Sebia, a French in-vitro diagnostics company, from two European private equity investors.

The Paris-based company focuses on oncology, genetic haemoglobin and metabolic disorders, as well as multiple myeloma diagnostics. With support from the Caisse, it intends to continue the global expansion of its diabetes business and search for other applications for its technology, according to a news release.

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“The accuracy, efficiency and speed of Sebia’s tests, coupled with its proven technology, make them critical to the global medical community,” said Stéphane Etroy, executive vice-president and head of private equity at the Caisse.

“The company’s rapid growth and development into adjacent therapeutics areas is evidence not only of the strength of its management team, but also of its resilient business model. We will work with our partners to support the company as it expands into new opportunities in the diagnostics sector.”

Benoît Adelus, chief executive officer of Sebia, noted the company has continued to upgrade its technology and its application to niche markets. “Having CDPQ as a long-term partner to the company will contribute to our development in line with this strategy.”

The Caisse acquired the stake from France-based Astorg Asset Management and Montagu Private Equity.

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Copyright © 2017 Transcontinental Media G.P. Originally published on benefitscanada.com

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